Download

Author

Accessioned

Available

Computerscience

Issued

Subject

Metadata

Abstract

A working hypothesis is presented and justified, called the Fundamental
Systems Hypothesis. It relates expected net output value, complexity,
risk and resources, and governs all human-agent-directed systems. The
general veracity of this Hypothesis appears such that it could be considered
a Fundamental Law of Systems. The risk measure can be either conventional
standard deviation risk or mean deviation risk. There are two risk
parameters: positive and negative risk. There are two complexity parameters:
monitoring or checking complexity, and resource-sharing complexity.
Monitoring complexity is defined as a specification length, and measures
complexity in the system's environment-coping procedure that monitors a time
function representing the unfolding environment. Resource-sharing complexity
measures the execution time of a complex resource-sharing procedure. The
Hypothesis is expressed as a mathematical relationship that reduces to
numerical values for specific system circumstances. It also quantifies real
economic losses, and gains, associated with system risk. The established
Markowitz-Sharpe-Lintner relationship between return, capital resources and
risk for the subclass of financial systems is inherent in the Hypothesis. The
Hypothesis can be subjected to experimental test.

Notes

We are currently acquiring citations for the work deposited into this collection. We recognize the distribution rights of this item may have been assigned to another entity, other than the author(s) of the work.If you can provide the citation for this work or you think you own the distribution rights to this work please contact the Institutional Repository Administrator at digitize@ucalgary.ca